Action is the BIGGEST key to success

cdn-million-dollar-billFor those of you who know me, you’ll know that I rarely have a shortage of what I consider my “million dollar ideas” to build on. In fact, I fairly regularly add to the list. A while back I wrote a post about thought vs. action. It seemed to me it was a turning point in my thought process…one of turning it into action. Fast forward a little over 6 months and where am I now? For starters, I’m off on leave (that’s really hard to say and hard to talk about). A long story short, I’m a big ass ball of stress. In addition to that my “million dollar ideas” list is larger and not a single one has been checked off anywhere near complete. There are some tiny modules that are working here and there, but nothing impressive at all.

I consistently find myself in a position where I’ve got a great idea and don’t act on it. Years back when the whole Napster vs. RIAA thing was coming to light of being illegal I was chatting with friends and telling them about a different, legal way to do MP3s on the internet and ensure the artists continued to make money. Well that idea is essentially what is now known as iTunes (and many other online music stores). At the time however, there were none…not a single online shop doing it. I’ll stamp that with a big FAIL on it as well.

Last week I was watching episode 9 (second segment) of Dragons Den on CBC. I love the show. There’s something fascinating about watching people do stupid things. But at least they’re up there doing it. I had been chatting with my brother about an idea I had which we were calling BlueBinder (@BlueBinder) and how cool it would be to pitch it on Dragons Den and get some capital, but more importantly the expert knowledge of these highly successful dragons. All five of them would be a valuable asset to the business. Well just the other week, GrubCanada pitched (successfully too I might add) and the thought of BlueBinder flickered and almost died. Then a friend forwarded me an article from TechCrunch about GrabyMyTable and it knocked another dent in the side of BlueBinder…though I’m sure OpenTable will give them a good run. Luckily there is still at least one USP (unique selling point) I have with BlueBinder and I’m hoping to capitalize and honestly competition is a good thing…it gives you someone to target. That being said, action is imminent and required IMMEDIATELY. This idea, is honestly on life support right now but can definitely be revived for huge success. I’d love to find out some information on patenting the idea/process that I have for BlueBinder’s USP.

Referencing these recent ‘insights’ I went back to have a look at the list of “million dollar ideas” and started going down the list:

  • SPRY: While not a million dollar company right now, at least it’s in progress and slowly making some income. Most would consider that a good thing and I’m definitely in that boat.
  • uPlay: I guess you could make this similar to Pandora—at least from my understanding of Pandora. Since I’m in Canada I have a hard time accessing it to actually test drive it.
  • BlueBinder: As mentioned above, similar sites exist out in the market place that are doing certain components and other various concepts but none are actually doing it the way I think it should be done or how I want to do it.
  • Community Connection: This one was a huge learning experience. Over $20k of personal cash invested in it (and still trying to pay that off) and a huge education as a result. The publishing industry is definitely an interesting one. The product was ahead of its time and I have no regrets for doing it. There’s a slight twist I’m planning to put on it that will hopefully have it making some revenue when I decide to revisit it in 2010.
  • Back 2 School: I can’t take full credit for this one. A lot of the basis of this idea was from my fiancee. A mother in Ontario has done something similar (it took me forever to find in Google), though not the same concept. I even had contacted various people at Staples, Grand & Toy and Office Depot to get communications going. It’s definitely a little bit of a challenge to get high up enough into some of these organizations.
  • Hotel Reviews: Again, not a complete idea of my own but the guys at Oyster are doing something similar. This one is moving forward slowly and will hopefully launch in Q1 of 2010.

The best part about ALL the ideas above is that they’re similar, not the same (with the exception of the iTunes one from the mid-90s). What does this mean? Well it means I need to take action. The only way to become successful is by taking action. It goes back to the wonderful grade 11 physics class with Dr. Flint and the whole “for every action there is an equal and opposite reaction” theory. I never realized how that would actually play over into life as well as the scientific realm.

Of course the list of “million dollar ideas” above is not complete. It also doesn’t give more then a 40,000 foot high-level view of a few of the things I’ve been thinking of. Have you got suggestions on things to add or features you’d like to see on them? Simply comment below.

My thought around this for a moral of the story is take action. And more to the point, why not take action today. Tomorrow is not a promise.

I look forward to hearing about your lost “million dollar ideas” from sitting around with inaction. More importantly I look forward to hearing your stories of success. Please, leave a comment.

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